Portfolio Companies

Since 2012, our SEIS funds and EIS funds have made over 229 investments into 62 companies, with 52 still in the portfolio. We invest up to £150k of seed funding into SEIS companies, and typically up to £300k of EIS follow-on funding (click here to learn about the SEIS and EIS schemes and their tax reliefs). We also regularly give our fund investors the opportunity to make their own follow-on co-investments at our monthly presentations.

Many of our companies are located in and around Oxford, so that our UK team can get actively involved with assisting them during their early years. Beyond that, our only portfolio constraint is that each company must incorporate genuinely novel science or technology: we invest in "proper" start-ups that can disrupt existing sectors or even create whole new ones. The SEIS and EIS schemes offer significant downside protection and loss reliefs to de-risk these opportunities.

For full descriptions, progress updates, and current valuations of our portfolio companies, please see our Latest Quarterly Report.

New Investments (Q3 & Q4 2023)

Celsius develops a wearable wrist device that provides cooling relief for menopausal hot flushes.

Existing Portfolio

Chambertech wants to reduce the duration (by half) and increase the efficiency of
treating heart arrhythmia.

Curileum is discovering drugs to intervene in serious intestinal disease. They currently have three pipeline drugs treating bowel cancer, anal fistulas, and chronic inflammation respectively.

Combat develops and manufactures devices for the treatment of bladder and peritoneal cancers. These heat a chemotherapy liquid and circulate it through the target.

Entia are developing a virtual oncology solution to allow healthcare professionals to monitor the haematological toxicity of systemic anti-cancer therapies in the home

digiLab Solutions are harnessing big data sets to create bespoke Digital Twins, operating at the leading edge of ML/AI data science to convert research into competitive advantage.

LRESystem is offering an alternative to traditional elbow replacement surgery which treats only the ends of bones and thereby preserves upper limb mobility and strength in patients

Expend are developing a platform which automates spend and expenses management for both SMEs and larger companies. Their platform fully integrates with leading accounting tools.

Bioarchitech are aiming to improve cancer treatment by creating an oncolytic virus which causes the patient's own immune system to target and destroy tumours.

Gripable is enabling therapists to assess and train core hand movements through a mobile-first platform, to accelerate upper limb rehabilitation in stroke patients.

Run3D is using AI-driven gait analysis software to help runners and walkers improve technique, speed, and efficiency, prevent new injuries, and rehabilitate existing ones.

OxWash is making on-demand, sustainable laundry a reality, utilising a fleet of electric bikes and developing a low-impact washing technology which captures plastic microfibres

Etcembly is assembling the world's largest health and disease immune database, to revolutionise immunotherapy and personalised therapeutics across all patient groups

Neuroute is making clinical trial recruitment easier and faster by aggregating data from online health conversations

Refeyn are enabling the accurate mass measurement of single molecules in solution and in their native state, through the pioneering new technique of mass photometry.

Active Needle is addressing the problem of needle placement in ultrasound-guided procedures with their proprietary precision targeting technology

Process Vision is detecting liquid carryover and removing contamination from natural gas pipelines to minimise the risk of severe damage and improve efficiency of operations

Covatic is enabling brands to create personalised content without the need for login and tracking IDs, making personalisation more ethical and regulatory compliance less troublesome

Hydregen is developing bio-based manufacturing technologies for the fine chemicals and pharmaceuticals markets, at both the early and late stages of process design.

OxCan is increasing the early detection of cancers by combining cheap and accessible liquid biopsy techniques with machine learning to detect previously unknown bio-markers

Atelerix is enabling the consistent delivery of viable, functional cells with their encapsulating alginate gel, removing the need for expedited cryopreserved packages

Biomoti is developing a new class of drug-loaded particles called "Oncojans", designed to precisely target and gain entry to cancer cells whilst sparing healthy tissue

Designer Carbon Material is producing endohedral fullerenes (hollow spheres of carbon atoms) containing a single atom of another element, for quantum computing applications

SIME Clinical AI is enabling the prediction and rapid detection of lung disease at birth to increase the survival rates of babies in the neonatal intensive care unit (NICU)

Metal Powder and Process is producing high quality metal powders via gas atomisation for the aerospace, medical, and other industries, with fewer impurities than existing atomisers

Orbit Discovery is developing a display engine platform to help biotech clients identify functional and biologically relevant peptide leads for novel therapeutics

Molecular Warehouse is designing a diagnostic tool for testing the presence and concentration of new proteins, with potential applications in therapeutic drug monitoring and dose control

Sasets is providing software for the construction industry which replaces paper forms with forms on mobile devices, accelerating data entry and enhancing data sharing between office and site

Spendology is offering players in the travel industry a white label solution for mail-order foreign currency, capturing margin in a surprisingly resilient sector

Oxford Nanoimaging is a spin-out from the biological physics lab at Oxford University. It specialises in super-resolution microscopy, which refers to being able to resolve dimensions smaller than the wavelength of light.

RCL is developing novel compressors, expanders and heat pumps that are extremely efficient and cost-effective.

Flarebright is pushing the boundaries of embedded AI technology to develop autonomous drones with their own inertial navigation system

OxVent is manufacturing high-performance, low-cost, and easily deployable mechanical ventilators ideally suited for emergency situations and routine procedures

Nikalyte is manufacturing bench-top nanoparticle deposition equipment which operate in a vacuum, to create ultra-pure non-agglomerated nanoparticles

Machine Discovery is leveraging neural network technology to accelerate expensive calculations by an order of magnitude, with minimal data and high accuracy

Zayndu are developing technologies to sterilise seeds with plasma instead of harmful chemicals, improving seed health and enabling vertical farms to increase production

Cryologyx is developing cell models which are frozen in-plate and ready to use direct from the freezer, significantly accelerating the research and testing cycle

Cytoswim is using its proprietary microstructure to create the next generation of sperm conditioning tools, improving male fertility and IVF outcomes

Connexin is developing novel drugs to protect vision in patients with progressive glaucoma and related conditions who suffer cell death from increased intra-ocular pressure

Smarter Naturally is developing foods to fight diabetes and high-cholesterol, powered by a specially selected variety of broccoli high in the compound glucoraphanin

Cytecom is designing a rapid bacterial detector, exploiting the novel field of bacterial electrophysiology and replacing the need for time-consuming agar plating

SurreyH2 is developing a technology for very cost-effective production of green hydrogen.

Polycat is applying metal nanoparticles onto polymer substrates to give them a range of smart functionality, including antiviral garments and chemical spill-kits

MitoRx are creating first-in-class mitochondrial-protective therapeutics which target rare neuromuscular disorders and rare metabolic diseases.

OVO Biomanufacturing are solving the effects of "Defective Interfering Particles" for viral vaccine manufacturers and also developing the next generation of preventative antivirals.

Theraport develops engineered exosomes to improve and transform drug delivery.

Scintam's tooling platform is redefining maintenance to increase safety and efficiency.

Genevation aims to treat cancer patients with individually targeted mRNA vaccines.

Exits

Full

Ducentis is developing novel therapies for inflammation and autoimmune diseases by targeting the CD200(R) axis to deactivate unhelpful immune responses

Darkbeam is building a unified solution to protect SMEs against security, brand, and compliance risks across their digital infrastructure: this is "Intelligence as a Service".

The company previously named Lightpoint.

The company is developing technologies which can detect cancer in real time, by using existing radio- pharmaceuticals. This will reduce the need for repeat surgeries and improve patient outcomes.

Partial

Refeyn are enabling the accurate mass measurement of single molecules in solution and in their native state, through the pioneering new technique of mass photometry.

Animal Dynamics is adapting the techniques and structures of animals to create more efficient vehicles. SEIS shareholders secured a 14x after tax return.

Covatic is enabling brands to create personalised content without the need for login and tracking IDs, making personalisation more ethical and regulatory compliance less troublesome

OxWash is making on-demand, sustainable laundry a reality, utilising a fleet of electric bikes and developing a low-impact washing technology which captures plastic microfibres